Aliko Dangote, owner of the Lagos-based 650,000 barrels per day refinery, expressed confidence on Tuesday that the pricing and availability of petrol from his facility will soon be resolved, enabling widespread distribution.
Discussing the logistics, Dangote stated, “Our PMS (Premium Motor Spirit) can be in filling stations within the next 48 hours depending on NNPCL. We are poised and ready to distribute once all arrangements are in place.”
He further explained, “The pricing strategy for our petrol is part of an arrangement approved by the Federal Executive Council under the leadership of His Excellency, President Bola Ahmed Tinubu.” He added, “President Tinubu is actively pushing to finalize this. It could be today, it could be tomorrow, but we are ready to roll into the market.”
Highlighting the benefits for consumers, Dangote remarked, “It’s a celebration day for Nigerians. We assure all citizens that they are going to have access to quality petrol, ensuring the longevity of vehicle engines. Issues with engines due to fuel quality, which many experienced in the past, will no longer occur.”
Dangote emphasized the quality of his refinery’s product, stating, “The quality here will match global standards. We aim to surpass expectations, ensuring the product is on par with those from the US, America, and elsewhere.”
Aliko Dangote (middle) flanked by team members
An industry analyst, Dr. Kemi Adeyemi, praised the development, stating, “This is a significant milestone for Nigeria’s energy sector. Having a reliable domestic supply of petrol not only stabilizes the market but also offers potential price relief to Nigerians who have been burdened by high costs due to importation.”
Additionally, Minister of State for Petroleum Resources, Mr. Timipre Sylva, commented, “The Dangote Refinery’s progress signals a positive shift towards energy self-sufficiency in Nigeria. The government’s collaboration with private sectors like Dangote’s showcases our commitment to improving the nation’s energy landscape.”
The Consumer Advocacy Group of Nigeria also weighed in, with spokesperson Olu Lawanson stating, “We welcome this initiative. Access to high-quality and affordable petrol will greatly improve the daily lives of Nigerians. We commend Dangote and the government for working together towards this goal.”
Operations at Dangote’s $20 billion refinery began in December, focusing initially on supplying diesel and aviation fuel. Despite initial regulatory hurdles, the facility aims to reach its full 650,000 barrels per day capacity by the end of the year.
Addressing Nigeria’s energy sector woes, Dangote noted, “With all state-owned refineries non-operational, Nigeria has been heavily reliant on imported refined petroleum products. We hope to alleviate some of the pressure faced by the NNPCL, the major importer of these essentials.”
Dangote refinery
With fuel queues a common sight and petrol prices having tripled since the removal of subsidies in May 2023, Dangote’s initiative offers hope to a nation grappling with energy challenges exacerbated by inconsistent electricity supplies. Gmtnewsng.com
